So, it's happening. DC have confirmed that as of September they're completely rebooting their entire line, universe-wide. With new #1 issues for 50 titles and "a chance to start, not at the beginning, but at a point where our characters are younger and the stories are being told for today's audience."
A few thoughts from me on this:
For retailers, this is going to be a fucking nightmare.
For current readers too, in most likelihood. For example, I currently pick up Batgirl, starring Stephanie Brown as Batgirl by a creative team I love. Come September, I may go into my local store and there'll be a copy of Batgirl waiting for me. Except this Batgirl could be Barbara Gordon. The entire universe and characters I was invested in swept aside to restore a status quo I'm too young to remember.
As an existing reader, that's a horrible thought.
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